Indian Oil Marketing Companies Consider Refinery Price Freeze Affecting Standalone Refiners

State-owned oil marketing companies in India are considering paying refineries prices below imported rates for petrol and diesel to limit losses caused by a retail fuel price freeze amid rising global oil prices. This approach, involving freezing or discounting the refinery transfer price, could affect standalone refiners like MRPL, CPCL, and HMEL, which rely heavily on market-linked pricing. Integrated state-run firms such as IOC, BPCL, and HPCL may better absorb the impact due to their combined refining and marketing operations.